Question

answer both question of economy ..❤​

Answer 1

Answer:

1)Revenue is the income generated from the sale of goods and services in a market. Average Revenue (AR) = price per unit = total revenue / output. The AR curve is the same as the demand curve. Marginal Revenue (MR) = the change in revenue from selling one extra unit of output.

The firm's marginal revenue is the extra revenue they earn from selling an additional unit of output. ... Therefore, in perfect competition, average revenue is equal to marginal revenue, as a single price, the ruling market price, is charged for all units sold by firms.

2)Only when marginal revenue is zero will total revenue have been maximised. Stopping short of this quantity means that an opportunity for more revenue has been lost, whereas increasing sales beyond this quantity means that MR becomes negative and TR falls.

Explanation:

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Answer 2

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